Question: What is the IRAC solution to this case? i need to find the IRAC solution with only this given information. 5. Plains Resources' executives reported

What is the IRAC solution to this case?

i need to find the IRAC solution with only this given information.

5. Plains Resources' executives reported that the com pany found an unusually large natural gas field result, the company's stock was bid up from $7.63 $29 a share in a few months. Insiders were told that initial estimates were too high, however, and they sold more than 30,000 shares of stock. Information about the lower estimates was then released, driving the price down to about $15. Shareholders sued, claiming that the executives traded on insider infor mation and misled investors by not revealing bad in formation about the gas find more quickly. Was that securities fraud? [Rubinstein v. Collins, 20 F.3d 160, 5th Cir. (1994)

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